With 10 Days Until Stafford Rates Double, Here's What You Can Do

posted by Lana N. | 3pt
June 19, 2012

We have less than 10 days remaining before rates on federal Stafford loans are set to double. What are you going to do to stop it?For those of you new to this issue, July 1st is when the low interest rates on federal Stafford loans expire, doubling rates on millions of students attending college this fall. Without this new plan, students borrowing the maximum could pay up to an additional $5,000 over the repayment of their loan.Keeping education affordable with financial aid is a no-brainer. Congress was set to pass this bill in May before Senate Republicans voted to defeat a bill that would have kept federal Stafford rates low, in order to save a corporate tax loophole. With the clock ticking, we need you to take action now before the July 1st deadline. Here's how you can help!

1. Make Calls (Or Get Your Friends To Make Calls)

Did your senators vote against Don't Double in May? Tell them that you noticed and will be voting.Click here to use our call tool. If your senator voted against the last bill, we'll give you the office number, a script, and 5-second quick survey to keep track of your calls. When Senate offices get a large number of phone calls from their constituents on one issue, they take notice.If you get an error message, your senators are already on board. Share the call tool with your friends in different states.

3. Write a Letter to the Editor

Your congressional offices read every local newspaper and every editorial in those papers. Make your statement somewhere they can't ignore you.Use our Letter to the Editor tool to write a letter to your local newspaper.Editorials in support of Don't Double My Rate are already springing up across the country, but they need to hear your story, and they need to hear it soon.We're counting on you to win this fight to reduce student debt, so spread the word by clicking the "Like" and "Tweet" buttons on this post when you're done.